Traditional financial giants, Millennium Management and Schonfeld Strategic Advisors, made waves with their 13F filings, revealing some of the largest spot Bitcoin ETF investments to date.

Millennium boldly plunged into the crypto realm with a hefty $1.9 billion investment spread across various ETFs, including BlackRock’s IBIT and Fidelity’s FBTC, among others. Meanwhile, Schonfeld Strategic Advisors didn't shy away either, disclosing a significant $479 million investment in the same ETFs.

These filings not only showcase the massive scale of their investments but also mark a significant milestone as major hedge fund managers venture into the Bitcoin ETF arena.

The timing couldn't be more dramatic, with both firms squeezing in their disclosures just before the May 15 deadline. Joining the fray, Morgan Stanley revealed its stake in GBTC, cementing its position among the select Global Systemically Important Banks (G-SIBs) with spot Bitcoin ETF holdings.

As the deadline loomed, anticipation built up, with industry insiders like Bitwise's CIO Matt Hougan predicting a surge in institutional investment, even as retail investors continue to play a significant role in shaping the landscape.

With over $53 billion in combined assets under management and $12 billion in cumulative inflows, the spot Bitcoin ETF market continues to attract attention and investment from all corners of the financial world.